Algorithmic Trading One Line News
automated trader rss feed

City AM's Morning Newspaper Round-Up

Posted:13/11/2008 7:29 by Peter Burnside
The two Scottish banking grandees trying to scupper Lloyds TSB's takeover of the rival HBOS said yesterday they have no plans to give up, despite the Prime Minister Gordon Brown and the Opposition leader David Cameron both agreeing there was no real alternative to the deal, says the Independent. The US government on Tuesday abandoned its plan to buy toxic assets, feeding a gathering sense of gloom as investors fled from risk and US equity markets sank to levels approaching their October lows, writes the FT. BAE Systems is in talks to sell up to 24 Eurofighter Typhoon fighter aircraft to Oman in a deal worth at least £1.4bn, the FT has learnt. DSG International, the owner of Currys and PC World, was at the centre of renewed concerns about deteriorating credit conditions yesterday as a big insurer reduced the cover it offers to guarantee that the electrical retailer's suppliers will be paid, according to the Times. UBS suffered its heaviest blow yet in the investigation into its offshore banking activities for rich American clients as US authorities said they had indicted Raoul Weil, the Swiss bank's head of global wealth management, reports the FT. Blackstone's GSO Capital Partners and GoldenTree Asset Management, two of the biggest hedge funds investing in debt, have turned to investors for more capital in the face of markdowns on their holdings and margin calls from their lenders, says the FT. Japan is preparing to tap its foreign exchange reserves to the tune of $US100 billion in a massive offer to the International Monetary Fund, government sources have told the Times. When the London Stock Exchange started the hunt for a successor to Dame Clara Furse, its chief executive of eight years, it was not obvious who might rush to take her place. Given the array of challenges facing the 207-year old exchange, it is hard to see who would be in a hurry to take the top job, reports the FT. A telecoms company owned by Russian billionaire Mikhail Fridman claims to be the victim of espionage and black propaganda and has urged a rival company to investigate any possible involvement. Altimo, whose advisory board includes a former head of Britain's GCHQ listening station and a former deputy chief executive of Vodafone, said it has received evidence of wide-ranging attempts to discredit the company, writes the Telegraph. click here to return to the top of the page
  • Copyright © Algorithmic Media Ltd 2009
http://www.icapcharityday.com/